Coles has recorded a 6.6 per cent rise in sales over the first quarter of 2013, outperforming rival Australian retailer Woolworths.
Sales from Coles’ core food and liquor business topped A$6.5bn (US$6.7bn) for the three months to March 24, with comparable-store sales up 5.3 per cent.
Last week, Woolworths revealed sales from its core Australian division had risen by 5.6 per cent, with comparable-store sales growing by 3.8 per cent.
Coles managing director Ian McLeod said the company had made an “unwavering commitment” to reducing prices through its Down Down promotional campaign and to sell Australian grown produce where possible.
“The reinvigoration and extension of our Down Down campaign during the quarter began in January with the lowering of prices on hundreds of grocery lines that our customers buy most,” McLeod said.
“The vast majority of these lower prices have been funded by Coles, and this investment has been welcomed by our customers and has resulted in good grocery volume growth.
“Our commitment to locally grown and sourced produce continues to be well received by our customers with fruit and vegetable sales experiencing double digit comparative growth in the period.”
